MSME
MSME entrepreneurs playing a key role in taking UP economy forward: Yogi
- IBJ Bureau
- Jun 28, 2024
Chief Minister Yogi Adityanath said on Thursday that Uttar Pradesh was home to over 90 lakh micro, small and medium enterprise (MSME) units. In 2017, the State had the sixth-largest economy in India, but today, it has risen to the second place, he added.
At an event held in the Lok Bhavan auditorium in Lucknow on International MSME Day on Thursday, Mr Yogi emphasised the significance of MSMEs as the backbone of the global economy.
“Economic growth has made UP a leader in employment generation. MSME entrepreneurs have been crucial in advancing the State’s economy,” the chief minister said.
Recognising that MSMEs are the second-largest sector for employment generation after agriculture, Mr Yogi added that continuous efforts since 2017 had revitalized the MSME units. Today, this sector stands as the backbone of Uttar Pradesh’s development, he remarked.
The chief minister announced that entrepreneurs would now have access to loans exceeding Rs 20,000 crore. Additionally, efforts had been made to revive struggling units under the Raising and Accelerating MSME Performance (RAMP) scheme, and significant steps had been taken to elevate enterprises to new heights.
Mr Yogi said that the State government had offered Chief Minister Udyam Bima to over 24 lakh registered entrepreneurs. This scheme provides up to Rs 5 lakh in benefits in case of a disaster.
UP’s MSME Minister Rakesh Sachan, IIDC Manoj Kumar, Principal Secretary Alok Kumar, along with other dignitaries, handicraftsmen, artisans, bankers, entrepreneurs and experts from across the State were present on the occasion.
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